Minimum requirements to clear exams at Insurance Institute of India.

If I apply in III (Insurance Institute of India), what are the minimum requirements to clear the exam and also what is the time limit for passing the examinations?

The minimum requirement for passing the examination is that you have to get 60% or above marks for all the subjects/papers that are of objective type like MCQ (on-line/off line) with the duration of the exam being 2 hours. There is a slight difference between the complexity of the questions that are asked in the subjective paper thus, the passing are kept as 50% or above which is slightly lesser than the objective paper. Duration of this subjective exam is 3 hours. If you have obtained atleast 75% marks in any subject, you will be considered to have passed with Distinction in that particular subject. If you obtain the minimum credit points and have passed mandatory subjects then you will be issued certificates/Diplomas. AIII and FIII diplomas are awarded only if you are duly elected as Associates and Fellows of the Insurance Institute of India as per the laws of Insurance Institute of India. You can now fill the form which is available online on the Insurance Institute of India website under diploma link. For further selection as Associate or Fellow, you have to download the election form and send the hard copy duly filled in to Insurance Institute of India, Mumbai, only after you have passed the examination you become eligible to do so.
There is no limit as such for passing the professional examinations of the Insurance Institute of India. However, you need to keep in mind that the credit points that you earn as per their policies will be valid only for five years from the date of passing the subject. If you have passed the Associate exam then the validity of the credit point for fellowship will be extended by 2 years.